The “Golden Visa” program in Greece, whereby the purchase of property or investments above 250,000 euros is attached to a five-year residency permit, reported its first net loss during the first half of 2022.
Essentially, more “golden visa” recipients exited the program than entered.
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The more than two-year Covid-19 pandemic and the Russian invasion of Ukraine last February has apparently not only made the arrival of new investors difficult, but has also caused others to exit the country.
According to figures supplied by the relevant migration and asylum ministry, the number of five-year “golden visas” in the first half of 2022 dropped by 5.66, compared to the previous six-month period.
In absolute terms, out of the 9,616 active “golden visas” issued between 2013 and Dec. 31, 2021, the number has fallen to 9,074 in the first half of the year.